Bank Of China

Bank Of China's reported carbon emissions

Bank of China (CN) has reported total Scope 1 and 2 emissions of approximately 1.22 billion kg CO2e for 2024. This figure includes Scope 1 emissions of approximately 77.3 million kg CO2e and Scope 2 emissions of approximately 1.14 billion kg CO2e. For 2023, the bank reported Scope 1 and 2 emissions totalling approximately 1.59 billion kg CO2e, comprising Scope 1 emissions of approximately 84.7 million kg CO2e and Scope 2 emissions of approximately 1.51 billion kg CO2e. In 2022, Scope 1 and 2 emissions were approximately 1.54 billion kg CO2e, with Scope 1 at about 74.9 million kg CO2e and Scope 2 at about 1.46 billion kg CO2e. In terms of climate commitments, Bank of China has set several reduction targets. The BOC London Branch and BOC (UK) aim for operational carbon neutrality within their jurisdiction by 2030, with a plan to reduce greenhouse gas emissions year-on-year. From 2030 to 2050, they intend to support upstream and downstream companies in reducing emissions through supply chain management. BOCHK is committed to achieving its carbon neutrality targets, working towards carbon-neutral operations by 2030. Additionally, the Bank aims to reduce its Scope 1 and Scope 2 emissions by 50% by 2050, using a 2020 baseline. A near-term target was to achieve a 40% reduction in absolute carbon emissions by 2025 compared to a 2019 baseline for both Scope 1 and Scope 2. Furthermore, Bank of China ceased providing financing for new coal mining and coal power projects outside of China from the fourth quarter of 2021, with exceptions for already contracted projects. Bank of China's emissions data is not cascaded from a parent or related organisation, as indicated by `is_cascaded: false`.